Employees in the public sector have lost something they used to count on: faith that their retirement income prospects were good.
So says a new report from the Center for State and Local Government Excellence and the TIAA-CREF Institute, which found that only 18 percent of full-time public sector employees are very confident about money for retirement.
Of course, that train left the station a while ago; even in 2012 only 21 percent were very confident about their retirement prospects. Worries about retiree health care costs, future benefits from Social Security and Medicare, and their own saving and investing for retirement are high on these folks' list of concerns.
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